well I just made a boo boo regarding the size of their powerplant investment - I had thought that their 1/3 share (37.6%) was to cost 1.5b but as it has been pointed out it was to be funded by more like $300 million ($US287.3m). Quite how this got them over a third share in an asset bought for $US 1477m cash I am not sure. The point remains though that AFG need to refinance this as a matter of urgency and they also have another $250 of debt requiring refinancing in may.
As to the SP - aw you really need to see what the terms of the announcement are. I wouldnt trust management to have shareholders interest at heart and I can imagine they would jump at the chance to pull assets off balance sheet if they received equity in a new private JV with macquarie/bonderman etc.
sentiment: buy..... why, page-6
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Last
$1.47 |
Change
0.070(5.02%) |
Mkt cap ! $396.6M | |||
| Open | High | Low | Value | Volume |
| $1.40 | $1.47 | $1.39 | $968.7K | 674.6K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 999 | $1.46 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.47 | 4950 | 1 |
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| Last trade - 16.10pm 31/07/2024 (20 minute delay) ? |
| AFG (ASX) Chart |